World Market Is Weakest in Years but Stockpiles at Utilities Are Low; the Role of Regulation, Infrastructure

India's reliance on domestic coal has left many of its power stations starved for fuel, forcing electricity cuts throughout the country, even as the price of imported coal slumps.

Despite having the world's third-largest coal reserves, according to the International Energy Agency, a quarter of India's 100 coal-fired power stations have enough fuel for four days or less, and stockpiles at some are even lower, figures from the...